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Title: Blockchain.info Unfair Fee Deduction Post by: Wapinter on August 09, 2015, 11:00:24 PM I sent 0.001 btc to an btc address from my Blockchain wallet for which they deducted 0.0004 btc as fee :(
Should I switch to another wallet? Title: Re: Blockchain.info Unfair Fee Deduction Post by: Foxpup on August 10, 2015, 05:39:01 AM No, you should stop using Bitcoin for microtransactions; it is not suitable for that purpose, nor was it ever designed or intended to be.
Title: Re: Blockchain.info Unfair Fee Deduction Post by: hilariousandco on August 10, 2015, 06:32:23 AM I sent 0.001 btc to an btc address from my Blockchain wallet for which they deducted 0.0004 btc as fee :( Should I switch to another wallet? If you go to custom send you can choose what fee to pay or none at all (though your transaction may take a long time to confirm or even not at all). Title: Re: Blockchain.info Unfair Fee Deduction Post by: Wapinter on August 10, 2015, 09:45:05 AM No, you should stop using Bitcoin for microtransactions; it is not suitable for that purpose, nor was it ever designed or intended to be. So how much minimum should I send to incur least fee? Title: Re: Blockchain.info Unfair Fee Deduction Post by: Wapinter on August 10, 2015, 09:52:29 AM I sent 0.001 btc to an btc address from my Blockchain wallet for which they deducted 0.0004 btc as fee :( Should I switch to another wallet? If you go to custom send you can choose what fee to pay or none at all (though your transaction may take a long time to confirm or even not at all). Title: Re: Blockchain.info Unfair Fee Deduction Post by: foxkyu on August 10, 2015, 10:09:25 AM So how much minimum should I send to incur least fee? you can use custom fee if you don't want to use standard fee.but you will receive your bitcoin little bit longer than usual Title: Re: Blockchain.info Unfair Fee Deduction Post by: hilariousandco on August 10, 2015, 11:21:51 AM I sent 0.001 btc to an btc address from my Blockchain wallet for which they deducted 0.0004 btc as fee :( Should I switch to another wallet? If you go to custom send you can choose what fee to pay or none at all (though your transaction may take a long time to confirm or even not at all). It will be returned. You wouldn't ever lose it. Title: Re: Blockchain.info Unfair Fee Deduction Post by: medUSA on August 10, 2015, 12:17:39 PM I sent 0.001 btc to an btc address from my Blockchain wallet for which they deducted 0.0004 btc as fee :( Should I switch to another wallet? It is not entirely blockchain.info's fault. They are merely suggesting a standard fee based on the size of your transaction (4 kilobytes). I believe your address has more than 25 dust inputs from faucets? Transaction fee on size rather than value is one of the first things I learnt as a newbie. In the future, you can use custom fee as others have said. Do not use unreasonably low fee because the transaction may not confirm at all. Title: Re: Blockchain.info Unfair Fee Deduction Post by: Wapinter on August 10, 2015, 04:17:27 PM I sent 0.001 btc to an btc address from my Blockchain wallet for which they deducted 0.0004 btc as fee :( Should I switch to another wallet? They are merely suggesting a standard fee based on the size of your transaction (4 kilobytes). I believe your address has more than 25 dust inputs from faucets? Transaction fee on size rather than value is one of the first things I learnt as a newbie. Title: Re: Blockchain.info Unfair Fee Deduction Post by: Muhammed Zakir on August 11, 2015, 01:36:02 PM I sent 0.001 btc to an btc address from my Blockchain wallet for which they deducted 0.0004 btc as fee :( Should I switch to another wallet? They are merely suggesting a standard fee based on the size of your transaction (4 kilobytes). I believe your address has more than 25 dust inputs from faucets? Transaction fee on size rather than value is one of the first things I learnt as a newbie. Rough calculation: 148 * number_of_inputs + 34 * number_of_outputs + 10 ± number_of_inputs. Title: Re: Blockchain.info Unfair Fee Deduction Post by: dothebeats on August 11, 2015, 05:19:22 PM No, you should stop using Bitcoin for microtransactions; it is not suitable for that purpose, nor was it ever designed or intended to be. I use custom fees whenever I do a microtransaction. That always help me do the trick when I'm not in a hurry. Title: Re: Blockchain.info Unfair Fee Deduction Post by: techgeek on August 11, 2015, 05:43:03 PM You should use btc core wallet (desktop) it may not be a better option for speed of the transaction.
But you can customisze the setting under the options when you send to the bare minimum almost next to nothing if youre not in a hurry. Title: Re: Blockchain.info Unfair Fee Deduction Post by: dothebeats on August 11, 2015, 06:03:36 PM You should use btc core wallet (desktop) it may not be a better option for speed of the transaction. But you can customisze the setting under the options when you send to the bare minimum almost next to nothing if youre not in a hurry. Even lite wallets contain that similar option wherein you could customize the fee that you are willing to pay. Transaction speeds are almost instant, the confirmation times from the network aren't. The only downside of not paying fees for your transactions to get settled is that you'll wait for a longer time than the usual for your transactions to get processed, which is fine if you're not in a hurry. Title: Re: Blockchain.info Unfair Fee Deduction Post by: talkbitcoin on August 12, 2015, 04:29:12 AM i had the same problem, but it was because i used a lot of faucets and had a lot of dust in my wallet
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